FiLife offers five money saving tips for how to stay debt free this Christmas season, such as Parents coming up with an inexpensive or funny holiday tradition the whole family can enjoy.   

For parents still planning to buy gifts, plan to give group gifts instead of individual gifts and create a family Christmas budget. Ninety percent of the time, the reason why the kiddies want a specific toy is because they were sold on the commercial or heard from their friends about how cool it is.  But that toy could be very expensive.  By creating a budget, you as a parent, are teaching your children to spend wisely and most importantly, discipline.  

Children need to be reminded that while they may have toys and be able to spend time with their family this Christmas, not everyone can do that.  Now is the perfect time to start teaching young kids why it is important to give to others and select a charity that you want to support.  

Finally, maybe one of your Christmas presents for your kids is a financial investment. They maybe too young to appreciate it now but later, as adults they will definitely thank you.  In turn, the greatest gift they can give back will be investing in their kids’ future and the cycle continues.

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